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GST input on shares purchased by broker

This query is : Resolved 
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(Querist)
15 December 2024 whether GST input can be claimed on shares purchased by broker. if disallowable under which section.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 December 2024 Brokers cannot claim GST input on shares purchased because these transactions do not fall under taxable supplies as per GST law. This is primarily governed by Section 17(5) of the CGST Act, which outlines conditions under which ITC is disallowed. Therefore, any GST paid on brokerage or related services while purchasing shares does not qualify for input tax credit.
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